I authorize Bajaj Finserv representative to call /SMS towards this application and other products/services. This consent overrides my registration for DNC/NDNC. T&C

Thank You for applying for Home Loan
Our representative would shortly get in touch with you.

Use A Personal Loan for Debt Management Of Your Medical Bills

Undergoing treatment for a serious medical condition can be a harrowing experience. But it is nothing compared to dealing with the massive medical loan you are left with afterwards. Medical care is expensive. If your insurance does not cover it, you might be in a soup. But you can make things easier by applying for a Personal Loan for debt management. A Personal Loan can give you the necessary financial support as you get medical treatment.

A Loan to Pay Off Your Medical Bills

Most hospitals will insist on a one-shot payment. So, you may need to use a credit card. A few hospitals offer a spread-out repayment plan. In essence, you are taking a loan for a medical emergency from the hospital itself. The thing is, a Personal Loan would be cheaper than credit card or hospital debt. That is because you can expect to pay a far lower interest for a Personal Loan. For debt management, therefore, it is prudent to go for a personal medical loan.

Kavita needed hospitalisation for several days after getting dengue. She soon ended up with a huge bill. She was at her wit’s end about how to repay the bill. Her colleagues advised her to take a Personal Loan. Kavita followed their advice and it made the entire process much easier for her.

Are you wondering how to consolidate your medical debt? Here is what you should do:

Check Your Bill: Many people make the mistake of assuming the hospital bill is error-free. Unfortunately, whether due to bad practices of the hospital or negligence, overbilling is common. If you do not check your bills minutely, you could end up paying multiple times for the same service.

Check Your Insurance Plan: Before you rush to figure out how to pay your medical bills, see if your insurance covers any of it. Insurance policies are often tricky. Read your policy document. You may find that some, if not all, of the procedures or tests, are covered.

Compare all Your Options: Even if you can afford to pay your entire bill in cash, this will take a large bite out of your savings. Credit card is another payment option, but it charges a high interest rate. Your hospital may provide a repayment scheme. These schemes are generally inflexible and may be expensive. If your credit rating is healthy, the best option might be a Personal Loan.

Identify a Good Loan Provider: Many financial companies offer medical loans at reasonable rates. Be sure to go for a provider with a good reputation. You will save a lot of headache in terms of documentation and loan processing.

Make Sure your Credit Record is Clean: Pay all your loans, bills, EMIs, credit card dues, and other payments on time and in full. Maybe there has been some default or delay in the past but you have resolved the issue with the creditor. In that case, coordinate with them and with the rating agency to get the incident removed from your records.

Check your Personal Loan Eligibility: Apart from a high credit score, your income, employment record, and past experience with the lender affect your eligibility. Have you successfully taken and repaid a loan from a particular lender earlier? If so, you may be eligible for a bigger loan from them.

Gather all the Documents Required: These will include your original bills, discharge card, prescriptions, test results, and the filled-in loan application form. Other documents required will be listed on the loan provider’s website.

File your application: You can upload it on thelender’s website with scans of all documents. Or, you can courier your application to their office.

Now sit back and repay your medical loan gradually. After all, when you are recuperating from an illness, you do not need the added stress of an unwieldy loan. It is a much better idea to consolidate all your dues under one loan and repay it at your convenience.

Terms and Conditions

I declare that all the particulars and information provided by me in this application form are true, correct, complete and up-to-date in all respects and that I have not withheld any information whatsoever.

I confirm that I have/had no insolvency proceedings against me nor have I ever been adjudicated insolvent by any court or other authority and I further confirm that I have read the information on various loan products made available by Bajaj Finance Limited (hereinafter referred to as “Bajaj Finance?) on the Website www.bajajfinserv.in.

I authorize Bajaj Finance to exchange, share all information and details as provided by me in my application and in relation to my existing loans and/or repayment history to any third party including but not limited to its group companies, service providers, banks, financial institutions, credit bureaus, telecommunication companies, statutory bodies, etc. for customer verification, personalization of products or services, credit rating, data enrichment, marketing or promotion of Bajaj Finance services or related products or that of its associates and affiliates or for enforcement of your obligations and I shall not hold Bajaj Finance (or any of its group companies or its/their agents/representatives) liable for the use/sharing of the information as stated above.

I agree and affirm that Bajaj Finance may contact me and communicate with me over telephonic calls, or SMS on the mobile number mentioned in the application, or through any other communication mode (“Communication Modes?) to verify the details provided by me on the application. Further, I confirm that I would like to know through the above mentioned Communication Modes various Bajaj Finance loan offer schemes or loan promotional schemes or any other promotional schemes relating to various products/services offered by BFL/its group companies from time to time and hereby authorize BFL, its group companies, employees, agents, associates to contact me from time to time for the same.

I agree and confirm that laws in relation to the unsolicited communication referred to in the “National Do Not Call Registry? (the “NDNC Registry?) as laid down by the Telecom Regulatory Authority of India will not be applicable for such communication/calls/ SMSs received from BFL, its group companies, its employees, agents and/or associates.

I undertake to keep Bajaj Finance updated of any change in the information provided by me in this application form.

I understand and acknowledge that Bajaj Finance shall have the absolute discretion, without assigning any reason to reject my loan application and that Bajaj Finance shall not be responsible/liable in any manner whatsoever for such rejection.

I further understand and agree that pursuant to this application form, I will be required to submit documents to the satisfaction of Bajaj Finance and accept the loan terms and conditions for availing the loan granted to me by Bajaj Finance from time to time.